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Financial Issues & Answers for Everyone

A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.

This Week’s Edition of KBR:

This Month’s Poll

Do you agree that public trustees, guardians and departments supporting Indigenous Services should be able to certify impairments for the Disability Tax Credit?

Yes: 9 votes

21.43%

No: 33 votes

78.57%

Cast Your Vote

Scaling Your Financial Services Practice Post-Tax Season

Now that the height of tax season is over, many tax and financial advisors are turning their attention back to a growing challenge: how to build a stronger, more scalable business in one of the most difficult environments Canadian entrepreneurs have faced in decades. In fact, today, 55% of Canadian SMEs say they would not recommend starting a business, according to a CFIB Report.

Tax Avoidance, Financial Stress & Well Being

Earlier this month, Statistics Canada published a report titled Stretching the Loonie: a time series analysis of financial difficulty and quality of life. The report is based on a nation-wide survey and the results are concerning. They reveal a serious trend and it is possible this is contributing to the late filing trend we are seeing this tax season.

Often Missed: The GST/HST Rebate

personal resources, such as their vehicle, home office, supplies, or professional memberships. What many do not realize is that if these expenses include GST or HST, and their employer is a GST/HST registrant, they may be entitled to recover part of the tax through the GST/HST Rebate for Employees. This rebate is claimed using Form GST370 and reported on line 45700 of the T1 tax return. Here’s a primer for you to cover with your clients:

The Last of the Provincial Budgets Announced

The last of the provincial budgets have been brought down over the last month. Here’s a summary of the good news (tax changes) and the bad (big deficits).

KBR Poll: Should the OAS Clawback Start at a Lower Income Level?

The question of whether the Old Age Security (OAS) clawback should begin at a lower income than the current $93,454 threshold generated strong and varied reactions from the Knowledge Bureau community with 19% saying “yes” and the vast majority - 81% - saying no. Many respondents were firmly opposed to lowering the threshold, with some expressing strong frustration at the idea of penalizing those who have saved for retirement:

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Knowledge Bureau News Network

Financial Issues & Answers for Everyone

This Week’s Edition of KBR:

This Month’s Poll

Do you agree that public trustees, guardians and departments supporting Indigenous Services should be able to certify impairments for the Disability Tax Credit?

Scaling Your Financial Services Practice Post-Tax Season

Tax Avoidance, Financial Stress & Well Being

Often Missed: The GST/HST Rebate

The Last of the Provincial Budgets Announced

KBR Poll: Should the OAS Clawback Start at a Lower Income Level?

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